How to Avoid Being Scammed When Selling Your Horse

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Many horse selling transactions go smoothly and turn out fine, but that’s not always the case. When you list your horse for sale, keep these tips in mind to help avoid being scammed when selling your horse.

Do Your Research

If a buyer is a repeat offender, then chances are there will be some information or complaints about them available online. Before you enter a deal with a buyer, spend a few minutes searching their name, their phone number, and even their email address. This little bit of research can help to keep you out of a sticky situation later on.

Ask for Cash

The simplest way of ensuring that you get your full payment for the horse is to ask for a cash payment. Cheques take time to clear, so if you do accept a cheque, you may want to require that the horse stays on your property until the cheque has fully cleared. Be sure to verify this with your bank before you allow the buyer to take the horse off the premises.

Keep the Horse Until Paid in Full

Sometimes, when selling a more expensive horse, a buyer will ask that you accept a payment plan. It is up to you whether you decide to offer this option. If you do decide to offer a payment plan, then think about how long you are willing to wait before you have full payment for the horse. Make sure that you ask for a large deposit, and draw up a contract which identifies that the horse will return to your ownership if the payment plan is not fulfilled by the set date.

The best way to protect yourself while offering a payment plan is to require that the horse stays on your property until the final payment is received. Some buyers default on their payments, and getting the horse back may be difficult – you may never see the horse or the rest of your money.

Listen to Your Instinct

Above all else, the best way to avoid being scammed when selling your horse is to listen to your instinct. If something doesn’t seem to be right with a buyer, then avoid the transaction. You may wish to run the situation by your trainer or other horse-owning friends, since they may have some insight, too. Remember, there will be more buyers and you may have kept yourself safe from a scam.

Hopefully you’ll never encounter a scam when selling your horse, but if you do, these tips can help you to avoid it.

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